Photo: Andy Wong / AP
A new phone call between the US and Chinese presidents is at the centre of the global economic chessboard. Donald Trump and Xi Jinping may discuss the fate of strategic exports of rare earth minerals as early as this week. This was stated by US Treasury Secretary Scott Bessent in an interview with CBS Face the Nation.
“I believe we will see something very soon,” Bessent commented on the possibility of a conversation.
The United States accuses China of blocking the supply of key components for the high-tech industry, including minerals that are critical to the production of chips and batteries. These exports were frozen after the Trump administration imposed new tariffs.
“China is restraining exports of products that are important to the supply chains of Europe and India. This is not the behaviour of a reliable partner,” the US Treasury Secretary stressed.
The US side suspects that the blockade may be a deliberate political move, despite the agreements reached earlier in Geneva.
The talks between the US and Chinese leaders are intended to unblock the strategically important flow of resources. Trump and Xi last spoke on 17 January. This time, against the backdrop of tighter tariff policy and growing global competition, the future configuration of global trade will depend on this conversation.
